Required information [The following information applies to the questions displayed below] Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 15 units for $20 each. Purchases on Deconter ? 10 units os 6 cost Purchases on Decenber 14 Purchases on Decenber 21 15 units 0.514 cost f the units sold, elght are from the December 7 purchase and seven are from the December 14 purchase. Determine the costs issigned to ending inventory when costs are assigned based on specific identification. (The fovowing information appies no the questions displowed below) A company reports the following beginning inventory and two purchases for the month of danuary. On January 26. the company seds 350 units Ending invertory ot Jarsary 31 totals 150 units Assume the peypetuat inventory system is used. Detemine the costs assigned to ending inventory when costs are assigned based on the LFO method Assume the perpetual inventory system is used. Determine the costs assignied iu einumg the LIFO method. The following information applies ro the questions ofiplayed below) A company reports the following beginning imventory and two purchases for the month of January On January 26 , the company selis 350 units. Ending imventory at January 31 totals 150 units. Required: Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method Required information Trey Monson starts a merchandising busmoss on December 1 and enters into the following thee invertory purchases. Monson uses a perpetual inventory system. Also, on Decen ber 15 , Monson selis 15 units for 520 each. Aurchases on eqcenter 7 purchases on Decerber 14 hurchases on pecenber 21 30 unita.e \& 8cost za units g 912 cost is unics a sia cost. Of the units sold, eight are from the December 7 purchase and seven are from the December 14 purchase. Determine the costs assigned to ending imventory when costs are assigned based en specific identification